Sensex up 72 points in early trade on sustained buying

Mumbai: Continuing its upward journey for the ninth consecutive day, the benchmark BSE Sensex gained over 72 points and the NSE Nifty inched towards regaining 8,400-mark in early trade today as investors indulged in enlarging positions driven by positive domestic as well global cues.

Besides, covering up pending short positions by speculators in view of tomorrow’s June month expiry in the derivatives segment, influenced sentiment.

The 30-share index was trading higher by 72.48 points or 0.26 per cent at 27,876.85 with metal, healthcare, PSU and power sector stocks leading the rise.

The barometer had rallied 1,433.39 points or 5.4 per cent in the previous eight sessions.

Also, the National Stock Exchange index Nifty inched towards the crucial 8,400-mark by rising 18.30 points or 0.21 per cent at 8,399.85.

Brokers said sustained buying by participants as above-normal monsoon reignited rate cut hopes and a firming trend at other Asian markets with Japan’s Nikkei trading at around 18-year highs on confidence Greece will reach a last-minute debt reform deal with its creditors this week.

Among other Asian markets, Hong Kong’s Hang Seng was up by 0.15 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.13 per cent higher in yesterday’s trade.

PTI